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Old 12-22-2016, 11:02 AM
 
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I own a double wide that I was told was built in 1973. Has a steel frame and has had a large addition since. We are in need of the make & model number on this. Even if we can find one at least close to is we may be able to get this sale through the bank. I was never given the info when I bought it. Can anyone help?
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Old 12-22-2016, 12:34 PM
 
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Typically, the frame near the place where the hitch attaches will have a number etched or milled into it. The other places to look are the cabinet doors under the kitchen sink and around the breaker box. If it was taxed, the county may have a record as well.
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Old 12-22-2016, 06:21 PM
 
Location: Michigan
2,741 posts, read 2,957,807 times
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Quote:
Originally Posted by harry chickpea View Post
Typically, the frame near the place where the hitch attaches will have a number etched or milled into it. The other places to look are the cabinet doors under the kitchen sink and around the breaker box. If it was taxed, the county may have a record as well.
THIS I highlighted above. Also, EACH side will have a number. They should match, BUT, one side is "A" and the other side is "B".

Your true VIN (that's what this is) is a combination of the two. For instance, if the number is something like this: HRA175652A and the otherside one is: HRA175652B the state should have it registered as: HRA175652AB.

I can pretty much assure you, that since this is PRE 1976 HUD, you will never find a mortgage company that will generate a mortgage on it. Even IF this is on private property, on a proper house foundation, and was affixed legally to the land per your state rules.

Once a mobile home hits the 30 year old mark, they become effectively worthless, and banks won't mortgage them. Your only solutions then are a CASH sale, or a Contract for Deed (land contract) where YOU are the bank.

IF it's on private land, on a foundation, your next step is to check with your Secretary of State, and see if they have a registered copy of the title. If not, do YOU still have the original title IN YOUR HAND? If not, you have even more hoops to go through to get a new title created. If you are in Michigan, see my recent thread in the main Real Estate forum here, as I describe what you need to do, and I just went through it myself. It's messy, and expensive.

Good luck, you are going to need it.

P.S. I sold a 1973 doublewide mobile in Michigan in 2011, had to do it via land contract, and did it with a 5 year balloon. NO bank or mortgage company would do a mortgage on it, and I checked all over the country. My buyers, after making monthly payments for 5 years, just made the final balloon payment in September.

Last edited by MikeBear; 12-22-2016 at 06:30 PM..
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Old 12-22-2016, 07:36 PM
 
23,517 posts, read 69,907,878 times
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Good points, Mike. In Alabama, a doublewide with extensive add-ons and modifications could sometimes qualify to be re-classified as a house. I know that at least one fellow around here did it. IIRC, the primary part was removing the steel chassis and replacing it with something that couldn't be moved. That said, it was unusual and your comments undoubtedly stand.

There is something else that a lot of folks don't understand about the economics of a double-wide vs. a stick-built house. I'll give a quick comparison that should only be used to understand the dynamics. The actual figures will vary.
These exclude land value:
A 1000sf 1973 doublewide might have cost $15K, while a 1000sf stickbuilt cost $30K
Over ten years, the value of the doublewide might go down to $5K and then pretty much stay there.
In ten years, the stickbuilt might be worth $45K
In 2013, the value of the doublewide in good condition might have risen to $10K, simply on market demand
In 2013, the value of a 1000sf stickbuilt is not in demand, due to size and age - especially if the kitchen and bath need updating. Value might be back down to $30K (I had to take a beating on selling one just recently, so don't try to blow smoke up my butt)

Over that forty year period, for someone actually occupying the dwellings, the person in the doublewide will come out ahead.

Why? Because the lower cost and depreciation means that the doublewide is mortgage free earlier (less interest). Because of the depreciation, taxes are substantially lower over at least 30 years. Because of depreciation, insurance may still be high because of the premium charged for manufactured housing, but by about year 15 it may make more sense to drop the insurance entirely. Over forty years, both are likely to require two new roofs - roughly the same cost. Depending on the siding of the stick-built, both may need new siding.

Total expenses over the forty years can be substantially lower for manufactured than stick-built, MORE than offsetting any selling price. ($1K in un-owed property tax invested in the market for 30 years is no small change.)

I am NOT saying that such figures always work out that way, but on PURCHASED land (not a trailer park), if you handle land value independently, the TOTAL ROI may end up better with a doublewide than a stick-built. Seniors with fixed incomes, people wanting to buy more acreage in an up-and-coming area, both may do well to reduce dwelling costs and save or make money on lower taxes and insurance. One also doesn't worry as much about market volatility if a dwelling is only worth $10K.


Again, this doesn't always work. with any real estate it is location, location, location.
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Old 12-23-2016, 07:01 AM
 
12,016 posts, read 12,626,869 times
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Quote:
Originally Posted by harry chickpea View Post
Good points, Mike. In Alabama, a doublewide with extensive add-ons and modifications could sometimes qualify to be re-classified as a house. I know that at least one fellow around here did it. IIRC, the primary part was removing the steel chassis and replacing it with something that couldn't be moved. That said, it was unusual and your comments undoubtedly stand.


.
A mobile home can have an addition and can have had a bank loan and still not be classified as a house if it's on a rented lot. It will never be classified as a house unless you own the land.
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